Affiliated Managers Group, Inc. (NYSE:AMG) is set to announce its earnings results before the market opens on Monday, July 31st. Analysts expect the company to announce earnings of $3.25 per share for the quarter.
Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, May 1st. The asset manager reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.03. The company had revenue of $544.30 million during the quarter, compared to analysts’ expectations of $551.56 million. Affiliated Managers Group had a return on equity of 17.53% and a net margin of 22.31%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.94 earnings per share. On average, analysts expect Affiliated Managers Group to post $14.51 EPS for the current fiscal year and $16.27 EPS for the next fiscal year.
Shares of Affiliated Managers Group, Inc. (AMG) opened at 178.65 on Friday. Affiliated Managers Group, Inc. has a 1-year low of $130.48 and a 1-year high of $184.71. The firm’s 50-day moving average price is $169.88 and its 200 day moving average price is $161.61. The firm has a market cap of $10.11 billion, a PE ratio of 20.32 and a beta of 1.64.
In other news, Director Patrick T. Ryan sold 8,902 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $152.89, for a total transaction of $1,361,026.78. Following the transaction, the director now owns 10,342 shares of the company’s stock, valued at $1,581,188.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight D. Churchill sold 3,277 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $163.30, for a total transaction of $535,134.10. Following the transaction, the director now directly owns 7,301 shares in the company, valued at approximately $1,192,253.30. The disclosure for this sale can be found here. Insiders have sold 69,107 shares of company stock worth $11,065,554 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.
AMG has been the subject of several recent research reports. Zacks Investment Research downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. ValuEngine upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Citigroup Inc. restated a “buy” rating on shares of Affiliated Managers Group in a research note on Tuesday, May 2nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $185.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, April 4th. Finally, Credit Suisse Group restated a “buy” rating and set a $207.00 target price on shares of Affiliated Managers Group in a research note on Sunday, July 9th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Affiliated Managers Group currently has a consensus rating of “Buy” and an average price target of $189.38.
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About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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